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    505-507 E University Ave, Unit Champaign Champaign, IL 61820

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    For Sale
    $3,000,000

    3,600 SF multi-tenant building with diverse tenant mix.

    Property size:
    3 SF

    Property Features for 505-507 E University Ave

    General Information

    Size
    3 SF

    Building Details

    Year built
    1990

    Source: Jay Sikorski Agent Jay Sikorski

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Versatile Multi-Tenant Building For Sale

    Located at 505-507 E. University Avenue in Champaign, Illinois, this 3,600-square-foot multi-tenant building presents an investment opportunity. The property is occupied by a liquor store, an international fast-food restaurant, and a therapy center. The available space is delivered in vanilla box condition, allowing future tenants to customize the interior. The site offers visibility along University Avenue, providing exposure and consistent vehicle and pedestrian traffic. On-site parking enhances accessibility for tenants and customers. The property’s location near the University of Illinois campus, Carle Foundation Hospital, and OSF Heart of Mary Medical Center attracts a diverse population of students, medical professionals, and visitors. With a CG – Commercial General zoning designation, this property supports a wide range of commercial uses. Its central location in a densely populated area surrounded by businesses and residential neighborhoods makes it an opportunity for both owner-users and investors looking to capitalize on Champaign’s strong economic and demographic growth.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Champaign
    County
    Champaign
    State
    Illinois
    Longitude
    -88.231379
    Latitude
    40.116059

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    FAQs

    What type of property is this?
    Retail space - 3,600 SF multi-tenant building with diverse tenant mix.
    Where is this retail space located?
    The property is located at 505-507 E University Ave, Unit Champaign Champaign, IL.
    What is the asking price?
    The asking price for this property is $3,000,000.
    What are key features of this property?
    This property features: - Prime location on University Avenue with HIGH VISIBILITY and traffic.; - Diverse tenant mix appealing to a broad customer base (liquor store, fast-food, therapy center).; - Ample on-site parking for tenants and customers.
    (217) 352-7712
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    505-507 E University Ave, Unit Champaign Champaign, IL 61820
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    505-507 E University Ave, Unit Champaign Champaign, IL 61820
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